The need for life insurance

If anyone is financially dependent on you, they would probably find it hard to make ends meet if you died. Life insurance to pay out in the event of your death would give them financial security. The people you might want to protect include:

A husband, wife, civil partner or unmarried partner

Children

An elderly relative who lives with you or depends on you

Life assurance is the oldest form of health and protection cover known. If you die, your estate gets paid a cash sum.

Surveys have shown that one person in three has no life insurance at all. A further third have not reviewed their life insurance needs over the previous five years – meaning that they may now be underinsured.

So it's a good idea to review your insurance protection at least once a year to ensure your cover would meet your financial commitments and that your policies reflect any changes in your family or employment circumstances - such as a new home, new baby, new job, new partner.

Life assurance is the oldest form of health and protection cover known. If you die, your estate gets paid a cash sum,

In a world where family relationships are increasingly complex, it makes a lot of sense to make a will, to ensure the money paid out goes to who you want it to go to- and as little as possible to the taxman.

You may need to insure someone else’s life, if you have a former partner helping to pay the family bills, or are buying a house with friends. You can get cover on ‘life of another’ – but you do need their permission and full co-operation.

Taking out a life insurance policy is a simple way to protect individuals and families in the event of death.